The Trump Transition Team’s Next SEC Chair: Teresa Goody Guillén
In a move that could drastically overhaul the Securities and Exchange Commission (SEC), President-elect Donald Trump is considering Teresa Goody Guillén, a partner at law firm BakerHostetler and co-lead of its blockchain team, to become the next SEC chair. Industry sources have confirmed that Goody Guillén is among several candidates being considered for the position.
A Seasoned Securities Lawyer
Goody Guillén is a seasoned securities lawyer with extensive experience serving the SEC and opposing the agency on behalf of blockchain companies and traditional businesses. Her background in securities law would make her an ideal candidate to lead the SEC, given the agency’s mission to protect investors and maintain fair markets.
Pro-Crypto and Non-Bureaucrat
According to industry sources, President-elect Trump is seeking a pro-crypto non-bureaucrat who will drastically overhaul the SEC with light-touch regulation. This shift in approach would mark a significant departure from the current administration’s stance on cryptocurrency regulations.
Teresa Goody Guillén (Courtesy BakerHostetler)
Industry Advocates Sing Her Praises
Crypto professionals have been advocating for Goody Guillén to head the SEC, citing her experience and understanding of securities laws. Brendan Playford, co-founder of Masa, a token-powered decentralized data provider for AI companies, said: "She is the best candidate of all the people that are currently being opined on." Playford praised Goody Guillén’s ability to make immediate changes to the SEC, saying she would be an "instant change maker" who would dramatically transform the industry with her pro-crypto stance.
A Clear Understanding of Securities Laws
Charley Cooper, senior advisor at digital asset solutions provider R3 and a former chief operating officer at the U.S. Commodity Futures Trading Commission, described Goody Guillén as embodying the principles of being understated yet tough. Cooper said: "She would govern based on substantive understanding of securities laws as they apply to the traditional markets, as well as to crypto."
A Trailblazer in the Crypto Space
Nicole Trudeau, general counsel for investment firm Wave Digital Assets, has worked with Goody Guillén on a number of crypto-related bankruptcies and SEC receiverships. Trudeau praised Goody Guillén’s expertise and vision, saying: "Teresa is a true trailblazer in the crypto space, bringing the expertise and vision needed to lead the SEC and drive the growth of U.S. crypto and capital markets."
A Competitive Shortlist
Goody Guillén enters a competitive shortlist to replace SEC chair Gary Gensler, who has begun referring to his job as "past tense" and is expected to step down before Trump’s inauguration on January 20. Other reported candidates for the position include Willkie Farr & Gallagher LLP partner Robert Stebbins, Paul Hastings partner Brad Bondi, former SEC commissioner Paul Atkins, Robinhood chief legal officer Dan Gallagher, and former acting Comptroller of the Currency Brian Brooks.
The Trump Transition Team’s Approach
Unlike the first Trump administration, this second-term selection process is rapid and organized, with an SEC chair expected to be chosen before Thanksgiving. Trump has named his transition team co-chair, Cantor Fitzgerald CEO Howard Lutnick, as commerce secretary. Earlier, Lutnick was fiercely jockeying to become treasury secretary, which now looks to be going to Key Square Group founder Scott Bessent, Apollo Global Management CEO Mark Rowan or former Federal Reserve governor Kevin Warsh.
A New Era for the SEC
The selection of a new SEC chair will have significant implications for the agency and the cryptocurrency industry. With Goody Guillén at the helm, the SEC may adopt a more light-touch approach to regulating digital assets until clear legislation is passed by Congress. This could lead to increased investment and growth in the crypto space, as investors become more confident in the regulatory environment.
Conclusion
The Trump transition team’s consideration of Teresa Goody Guillén for the position of SEC chair marks an exciting new chapter for the agency and the cryptocurrency industry. With her extensive experience in securities law and pro-crypto stance, Goody Guillén would be an ideal candidate to lead the SEC into a new era of light-touch regulation and increased investment in digital assets.
Timeline:
- Before Thanksgiving: An SEC chair is expected to be chosen.
- January 20: President-elect Trump’s inauguration date.
- Past tense: SEC chair Gary Gensler has begun referring to his job as "past tense" and is expected to step down before the inauguration.
